{"id":1700,"date":"2014-11-16T18:19:31","date_gmt":"2014-11-16T23:19:31","guid":{"rendered":"http:\/\/olduvai.ca\/?p=1700"},"modified":"2014-11-16T18:19:31","modified_gmt":"2014-11-16T23:19:31","slug":"oftwominds-charles-hugh-smith-its-not-just-japan-thats-failed-the-asian-miracle-model-has-also-failed","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=1700","title":{"rendered":"oftwominds-Charles Hugh Smith: It&#8217;s Not Just Japan That&#8217;s Failed; The &#8220;Asian Miracle&#8221; Model Has Also Failed"},"content":{"rendered":"<p><a href=\"http:\/\/charleshughsmith.blogspot.ca\/2014\/11\/its-not-just-japan-thats-failed-asian.html\">oftwominds-Charles Hugh Smith: It&#8217;s Not Just Japan That&#8217;s Failed; The &#8220;Asian Miracle&#8221; Model Has Also Failed<\/a>.<\/p>\n<p style=\"display: inline; height: 0px; overflow-x: visible; overflow-y: visible; padding: 1px 0px 1px 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><i style=\"background-color: white; padding: 0px; margin: 0px;\">The inevitable result of the centrally planned Asian Miracle Model is credit bubbles and the crippling misallocation of capital in Building Bridges to Nowhere.<\/i><\/span><\/p>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><b style=\"padding: 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><br style=\"padding: 0px; margin: 0px;\" \/><\/span><\/b><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><b style=\"padding: 0px; margin: 0px;\">Japan&#8217;s extraordinary rise from the ashes of World War II created an &#8220;Asian Miracle&#8221; template that other Asian nations have followed, and continue to follow.<\/b>The outlines of the model are straightforward.<\/span><\/div>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><\/div>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><b style=\"padding: 0px; margin: 0px;\">The growth engine is export-dependent mercantilism:<\/b>\u00a0organize the economy to prioritize exports at the expense of domestic income and consumption. The central government manages the mercantilist project in conjunction with favored cartels or state-owned enterprises (SOEs). In other words, The Asian Miracle Model is central planning plus credit expansion plus export-based cartel-capitalism.<\/span><br style=\"padding: 0px; margin: 0px;\" \/><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\"><br style=\"padding: 0px; margin: 0px;\" \/><\/span><\/div>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\"><b style=\"padding: 0px; margin: 0px;\"><span style=\"font-family: Verdana, sans-serif; padding: 0px; margin: 0px;\">The Asian Miracle form of centrally planned capitalism depends on these four pillars:<\/span><\/b><\/div>\n<div style=\"background-color: white; padding: 0px; margin: 0px;\">&#8230;click on the above link to read the rest of the article&#8230;<\/div>\n","protected":false},"excerpt":{"rendered":"<p>oftwominds-Charles Hugh Smith: It&#8217;s Not Just Japan That&#8217;s Failed; The &#8220;Asian Miracle&#8221; Model Has Also Failed. The inevitable result of the centrally planned Asian Miracle Model is credit bubbles and the crippling misallocation of capital in Building Bridges to Nowhere. Japan&#8217;s extraordinary rise from the ashes of World War II created an &#8220;Asian Miracle&#8221; template [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[34,111,1182,452],"class_list":["post-1700","post","type-post","status-publish","format-standard","hentry","category-economics","tag-asia","tag-capitalism","tag-export-dependent-mercantilism","tag-japan"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1700"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1700\/revisions"}],"predecessor-version":[{"id":1701,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/1700\/revisions\/1701"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}